We now have enough information to be able to answer the question of whether Angela Rayner will be subject to HMRC penalties, and how large those penalties will be. For the reasons below, in my view Ms Rayner will very likely receive penalties for a “careless” error of around 20%. The background On the basis […]| Tax Policy Associates Ltd
Angela Rayner’s leaked tax memo to Rachel Reeves outlines a raft of new revenue raisers. In this post, I look at each proposal, and ask whether it makes sense, and whether it would raise the claimed amount. The original report from the Telegraph sets out the detail of the memo – see also coverage from […]| Tax Policy Associates Ltd
Property taxes are probably more in need of reform than any other area of UK tax. We have three taxes on property: stamp duty (SDLT), council tax and business rates. They’re bad taxes: they’re unpopular, inequitable, and they hold back growth. There is a way to change this, and tax land in a way that […]| Tax Policy Associates Ltd
We have previously reported on a high profile unregulated firm called “Property118”, which promoted a series of landlord tax avoidance schemes. HMRC took action, and Property118 has resorted to asking their clients to make donations to fund their appeals. Despite this, Property118 continues to promote tax avoidance that doesn’t work and will land its clients […]| Tax Policy Associates Ltd
Stamp duty is a terrible tax. The Tories want to abolish it for most first time buyers. But the evidence shows that cutting stamp duty increases house prices, and that previous attempts to provide relief for first time buyers were ineffective. Council tax is also terrible tax – with Buckingham Palace paying less council tax […]| Tax Policy Associates Ltd
Some people on social media are convinced that Jeremy Hunt avoided tax when he bought seven flats through a company in 2018. We’ve analysed the transaction and believe it’s clear that he didn’t. Here are the claims (click to expand): Probably originating from this piece in the Mirror in 2018, itself based on this Telegraph […]| Tax Policy Associates Ltd